Question 4 of 30 1 Points In order to disclose the correct amount of the total debtors in the statement of financial position, the allowance for credit losses that has been created must be deducted from the debtors control balance. Creating an allowance for credit losses is in line with which one of the following accounting concepts/principles? O A. Materiality B. Matching C. Measurement D. Prudence Reset Selection Question 5 of 30 1 Points Income received in advance will be presented and disclosed in which of the following components of the financial statements... (1) Statement of profit or loss and other comprehensive income (2) Statement of changes in equity (3) Statement of financial position (4) Statement of bank reconciliation (5) Notes A. (1) and (3) B. (3) and (4) C. (1) and (2) D. (3) and (5) Reset Selection Question 6 of 30 1 Points Which one of the following is a characteristic of a sole trader? A. There may be up to fifty people sharing ownership. B. It must have the word (Pty) in its name. C. It has limited liability. D. The entity belongs only to one person. Reset Selection